Domain Names
Other intangible assets included domain names which are not amortised.
Internally generated development costs, computer software and assets under construction
Expenditure on research activities is recognised as an expense in the period in which it is incurred.
An internally generated intangible asset arising from the development of computer software is recognised if, and only if, all the following conditions have been demonstrated:
• The technical feasibility of completing the asset so that it will be available for use or sale.
• The intention to complete the asset and to use or sell it.
• The ability to use or sell the asset.
• How the asset will generate future economic benefits.
• The availability of adequate technical, financial and other resources to complete the development and to use or sell the asset; and
• The ability to measure reliably the expenditure attributable to the asset during its development.
The amount initially recognised is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above and is classified as an asset under construction. Where no internally generated asset can be recognised, development expenditure is recognised in profit or loss in the period in which it is incurred.